The top asset financing banks in Kenya are listed below. Asset financing is a deal where a financial institution helps customers buy movable assets like cars, machinery for the construction and industrial sectors, farm equipment, and other assets.
Asset Financing Banks provide funding at distinguished interest rates and terms of service which must be adhered to by the borrowers.
List Of Best Asset Financing Banks In Kenya
1. NCBA Bank
The NCBA helps clients purchase both new and used movable assets at competitive annual interest rates of 13%. The bank’s services are 7 times quicker than those of other business owners. You can spread out the costs using a variety of practical payment options.
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2. Co-operative Bank
Co-operative Bank offers financing for all kinds of mobile assets, including school buses, saloon cars, pickup trucks, tractors, computers, laptops, and printers.
Features
Flexible repayment schedule; annual interest rate is capped at 13%.
financing for all forms of mobile property.
Pricing that is reasonable in both domestic and foreign currencies.
Automatic notification of insurance renewal.
Requirements
Copies of identification, invoices, and importation paperwork.
The KRA PIN copy.
3. Absa Bank
Absa offers options like Flexi buy, Flexi rent, and Flexi lease to make financing your assets simple. The annual interest rate is 13.5%.
Flexi Buy
While you are paying off the asset, you are the owner.
Once the asset is paid off, you own it.
There isn’t any additional cost.
You pay back the capital and interest.
The seller adds interest to the cost price in addition to the full VAT.
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Flexi Leasing
Throughout the term of the lease, you may use the asset.
At the end of the lease, you have the freedom to choose whether to purchase the asset.
In order to meet your financial needs, you structure payments.
Select from monthly, quarterly, or yearly rentals.
VAT on each rental is only due when it is due.
Flexi Rent
A fixed, affordable monthly payment.
You do pay back some of the capital.
Stay away from ownership hassles.
No less than 11% of the original cost, including VAT, should be included in the residual value.
4. Family Bank
Asset financing, which is available to holders of business accounts, is designed to help with the purchase of movable assets like cars, trucks, motorcycles, and machinery.
Features